Spinnaker Trust Acquires Shares of 923 Quanta Services, Inc. $PWR

Spinnaker Trust bought a new position in Quanta Services, Inc. (NYSE:PWR) in the second quarter, HoldingsChannel.com reports. The fund bought 923 shares of the construction company’s stock, valued at approximately $349,000.

Several other institutional investors have also bought and sold shares of PWR. Savvy Advisors Inc. acquired a new position in Quanta Services during the second quarter worth $402,000. Assetmark Inc. grew its holdings in shares of Quanta Services by 29.7% in the 2nd quarter. Assetmark Inc. now owns 5,235 shares of the construction company’s stock worth $1,979,000 after purchasing an additional 1,200 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in shares of Quanta Services by 4.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 1,112 shares of the construction company’s stock worth $421,000 after purchasing an additional 43 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Quanta Services by 14.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 18,915 shares of the construction company’s stock valued at $7,152,000 after purchasing an additional 2,322 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC boosted its position in Quanta Services by 3,242.9% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 468 shares of the construction company’s stock valued at $177,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 1.0%

Shares of NYSE PWR opened at $453.20 on Friday. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $460.86. The firm’s 50-day moving average is $406.70 and its 200-day moving average is $373.13. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $67.53 billion, a PE ratio of 70.15, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the prior year, the business posted $2.72 earnings per share. Quanta Services’s revenue was up 17.5% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.330-10.830 EPS. Equities analysts expect that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Wednesday, October 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Quanta Services’s payout ratio is 6.19%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent analyst reports. Jefferies Financial Group raised Quanta Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $398.00 to $469.00 in a report on Wednesday, September 24th. UBS Group boosted their price objective on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Quanta Services in a research note on Wednesday, October 8th. Seaport Res Ptn upgraded shares of Quanta Services to a “hold” rating in a research report on Thursday, July 10th. Finally, Citigroup increased their price objective on shares of Quanta Services from $490.00 to $517.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Fourteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $414.09.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.